Shopping smarter? Woolworths picks underperforming AMP KiwiSaver

Woolworths NZ operates the Countdown supermarket chain and is one of the country's largest employers. (Image: Woolworths)

Dan Brunskill

Thu, 03 Nov 2022

New Zealand’s largest private employer, Woolworths NZ, has chosen AMP as its preferred KiwiSaver provider – despite its funds having higher fees and lower returns than average.The company, which is listed on the Australian stock exchange (ASX), said it won the tender over four other providers by focusing on its ability to offer financial education to supermarket staff.Managing director of AMP NZ Wealth Management, Jeff Ruscoe, said financial wellbeing was the “number one stress” for employees in this economic environment...

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